We can be wealthy PDF Print E-mail
Wednesday, 17 July 2013 10:41

The recent financial seminar of Colayco Foundation, “Pisobilities Wealth Within Your Reach,” held at Ateneo de Zamboanga University and organized by ADZU Cooperative was a financially rewarding experience (and was fun too as the audience had fun). Credit goes to Colayco Foundation Executive Director Armand Bengco who was the persuasive and powerful speaker that day. Beyond the importance of saving money, he made the audience realized that no matter what is their current financial status, age, gender or social class, one can be be financially stable in life.   The fear of having a financially secured future was lifted up.

Spending is a saving. This made one of the participants, Fred Covarrubias, smiled. And the first expenditure that he learned from here is to learn to save. Saving for him is now an expense. Make it the priority on top after earning a certain amount or getting your salary, he said seriously.  This is a good spending habit to develop, he grasped. Bengco, though, said that it is good to save (“spend”) 20% of your earning, it might not be realistic at the start. He said, one can start at 5% and gradually increase from there.

Enjoy vacation with no limits. But one has to plan for it. This I learned. It used to be that my wife and I will go for a vacation because we have the money and not because we have saved for it. Bengco said that if one wants to go to Boracay, for example, stay in the best hotel, eat the best food, and enjoy the best beach facilities, you have to plan save for it. If its cost P80,000 to do enjoy the best of Boracay, save for it ahead of time,  and not spend P80,000 because you have the money.

In Bengco’s case, he said, his children contributes to their vacation saving if they want the best. They have to save (no matter how small) and contribute for the family’s grand vacation that cost P80,000. No saved money, no vacation.   This way, Bengco shared, his children have learned the value of money.

And how do you know a person has made it successfully in life. When he does not have to work anymore because he has enough savings to buy what he wants and he is secured about his future that includes for his family. Bengco recommended to the audience to do their personal SALN (Statement of Assets and Liabilities Network) even if they are small time business people or salaried employees. This is the starting point to wealthness. One must realize how much you own (list all your properties like bed , an electric fan, table, chair,etc.), and what are your “liabilities” (utan) and plan how you can pay them. Your SALN can set direction to prosperity. He said also that investing in insurance and money market (mutual fund) can add security to one’s future. 

For more information about financial wealth, visit Facebook of Francisco Colayco founder of Colayco Foundation and www.colaycofoundation.com.

“And he shall be like a tree planted by the rivers of water, that bringeth forth his fruit in his season; his leaf also shall not wither; and whatsoever he doeth shall prosper.” (Psalm 1:3)

By Dante Corteza